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General Mills predicts lower profits as demand slumps, costs rise

The food giant is lowering its earnings expectations. An analyst with Bloomberg says food companies are seeing year-over-year cost increases at the same time that shoppers continue to be frugal.
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The food giant is lowering its earnings expectations. An analyst with Bloomberg says food companies are seeing year-over-year cost increases at the same time that shoppers continue to be frugal.

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General Mills profit rises on Yoplait, snack food acquisitions

Golden Valley-based General Mills Inc. says that its fiscal first-quarter profit went up 35 percent, with acquisitions lifting sales, the Associated Press reports. The results in the latest quarter were aided by the food maker's purchase of a controlling stake in Yoplait International and Food Should Taste Good, a natural snack foods company.

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The Minneapolis-based food giant had the best scores in Products & Services, Governance and Leadership as well as Citizenship. It beat out Kraft Foods, Johnson & Johnson, Kellogg's and Amazon, all in the top five. General Mills held the No. 15 spot last year.

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The Minneapolis-based company's non-profit Partners in Food Solutions helps small mills and food processors improve their food quality. MPR reports last year General Mills employees volunteered as many as 12,000 hours to fight hunger in Africa.